The Cost of Admission to the Forbes 400 List Hits a Record-High of $2 billion

Plus: Donald Trump’s Fortune Falls $600 Million to $3.1 Billion

ON THE COVER: President Trump sat down for an exclusive interview with Forbes in the Oval Office

NEW YORK (October 17, 2017) – The billionaires on Forbes’ 2017 ranking of the 400 richest people in America, (“The Forbes 400”p. 86 of the November 14, 2017 Special Issue of Forbes magazine), have a record-breaking, combined total net worth of $2.7 trillion, up from $2.4 trillion in 2016. The minimum net worth now required to be counted among the very richest Americans hit a record high of $2 billion, up from $1.7 billion in 2015 and 2016. There were 169 billionaires who did not make the cut. However, even at these new heights, there were 22 newcomers to this year’s list. The average net worth of a Forbes 400 member hit $6.7 billion, also a record high, up from $6 billion last year.

“America’s richest are richer than ever. The minimum net worth to make the Forbes list of 400 wealthiest Americans is now a record $2 billion,” said Luisa Kroll and Kerry Dolan, assistant managing editors of wealth at Forbes Media.

“But even at these new heights, entrepreneurs are breaking into the ranks for the first time as they mint fortunes in everything from Netflix and telecom to vodka and fishing."

Bill Gates tops The Forbes 400 for the 24th consecutive year, with a net worth of $89 billion this year. Amazon’s Jeff Bezos, worth $81.5 billion, retains the No. 2 spot for the second consecutive year. Warren Buffett, who prior to 2016 held the No. 2 spot for 15 consecutive years, is now No. 3 for the second year in a row. The biggest gainer (in dollar terms) of The Forbes 400 list is Facebook’s Mark Zuckerberg. Despite a $15.5 billion increase in net worth, Zuckerberg remains in No. 4, worth $71 billion. Rounding out the top 5 is Larry Ellison (No. 5), worth $59 billion, up $9.7 billion from last year.

ON THE COVER: On October 6, 2017, President Trump sat down for an exclusive, wide-ranging interview with Forbes. He discussed his relationship with Secretary of State Rex Tillerson, a new economic development plan and his intention not to fill vacancies within the administration. The interview was conducted in the Oval Office by Forbes Editor Randall Lane and Chief Product Officer Lewis D’Vorkin. For the complete story, visit: www.forbes.com/sites/randalllane/2017/10/10/donald-trump-exclusive-interview/

Drop-offs: Twenty-six people who were on the 2016 Forbes 400 dropped off the list. Notable drop-offs include Under Armour’s Kevin Plank and U.S. Commerce Secretary Wilbur Ross. Four members of last year’s Forbes 400 died: S.I. Newhouse, Henry Hillman, David Rockefeller, A. Jerrold Perenchio. One person (Roger Wang) moved off the list as a result of Forbes’ changing criteria for list membership. Members must now be U.S. citizens who own assets in the U.S. or reside in the U.S.

A record 169 billionaires did not make the cut this year, falling short of the $2 billionminimum needed to make the list.

Poorer President (p. 62): The Definitive Look at Donald Trump’s wealth. The President’s net worth has dropped $600 million since he was elected. From depressed real estate prices to new information, Forbes presents a transparent, asset-by-asset breakdown of his empire.

The Man, The Can & The Plan(p. 68) – Arizona Beverages cofounder Don Vultaggio rose from the streets of Brooklyn to build a $3 billion iced-tea fortune, one 99-cent Technicolor tallboy at a time. All it took was staring down thieves, industry giants and one very disgruntled partner.

ForbesLife: Tee for ‘Tude (p.81) – After cashing in on GoDaddy, brash billionaire Bob Parsons has focused his energy on two passions – custom motorcycles and extreme golf. Along the way, he’s changing how we ride and drive.

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